Coca-Cola only sold 1% more drinks last quarter, but it raised prices 13%. Its CEO said it has ‘the right strategies' for sustained success [Fortune]
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Source: Fortune
Street's $10.96 billion expectations, even as it grappled with a modest case volume growth of only 1%. The company introduced Happy Tears Zero Sugar and an accompanying “hype kit” available only on TikTok Shop to grow its online audience and signed a five-year deal with Microsoft this month to use cloud-computing software Azure to aid in marketing and streamlining operations and cost management. But innovation isn't what Coca-Cola has to thank for its resilience. Instead, the company owes its success to a price increase to the tune of 13% across products this quarter alone. “We're encouraged by our start to 2024, delivering another quarter of volume, topline and earnings growth amidst a dynamic backdrop,” said Coca-Cola chairman and CEO James Quincey , in its earnings report . “We believe our global system is primed for sustained success, thanks to the right strategies, clear alignment, a powerful portfolio and strong execution.” While the company attributes about half of its pr
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